An excellent article on Oligopoly and game theory....it will come up...so read and watch the video clips.....that includes you Alex!
Understanding Oligopoly Behavior – a Game Theory overview Welker's Wikinomics Blog
Monday 21 December 2009
Monday 14 December 2009
IGCSE: The Monetary Policy Balloon game!
Check out the interactive game which should help you understand Monetary Policy and how it works......Bank of EnglandEducationInflationThe Monetary Policy Balloon
Thursday 10 December 2009
Y10/11/12/13 House prices - interactive guide
Figures produced this week show that house prices have risen by 10% in the last 10 months. However a number economists a suggesting that in the next year house will fall by the same amount as we have a double dip in the housing market.The Guardian have produced a great interactive guide to house price since 2006.
GSCE Economics - House prices - interactive guide
Economics - Alistair Darling’s debt dilemma
Here is an absolutely brilliant interactive guide from the BBC which outlines the possible solutions to the UK’s huge debt problems. This is a must read for all students of 'Macro economics'.GSCE Economics - Alistair Darling’s debt dilemma – Interactive guide
Tuesday 8 December 2009
Climate Change Summit...the worlds most important meeting!!!
The Copenhagen summit....solutions....what would you do?
Monday 7 December 2009
Y13 Economics: Regulating Industries in the UK
The icon below is an excellent up to date piece on regulation in the UK. It focusses on markets and industries, the tools they have to influence prices, incentives, output and profits in different industries and some of the justifications for regulatory intervention and the downsides.There is also a cluster of good examples of competition policy in action during 2009 to bring your regulation / competition notes up to date.
Economics - Google Wave: Regulating Industries in the UK
GSCE Economics - Happy Holidays everyone!
Check out the advent calender......what a dismal year for the economy!!!GSCE Economics - Great starter activity for every lesson up to Christmas!
Y13 - Ofgem regulates natural monopolies.
Bills to fund electricity upgradeA typical customer pays £76 a year for electricity distribution.
The UK electricity regulator, Ofgem, says average electricity bills can increase by £4.30 a year for five years to pay for network upgrades.
The 14 networks that make up the UK supply were built in the 1950s and 1960s and are in need of investment.
Ofgem chief executive Alistair Buchanan said the proposals were "tough on inefficiency and poor service but fair in allowing the companies to invest".
And he said the new controls would lead to a greener electricity supply.
Mr Buchanan told the BBC that the customer was paying for the upgrade but that regulators had stopped companies from charging too much.
He said Ofgem had cut the sum wanted by companies by 8% to ensure value for money for the consumer.
Ofgem said investment on the UK's electricity infrastructure would be up 40% - to £7.2bn - compared to the last five years' spending.
The new investment figure includes £500m for a low carbon energy fund.
UK electricity networks are regional monopolies.
Regulators set price limits every five years to ensure a good service for customers to make up for the lack of competition.
Mr Buchanan also issued energy supply companies with what he called "a storm warning" - a message to them to make sure that households benefit from a fall in wholesale gas prices.
He said that if wholesale prices stayed where they were, bills must come down by next spring if companies wanted to avoid unspecified regulatory action.
Y13 Review Lesson: Perfect Competition
Excellent article and video on Perfect competition......watch, listen and learn.....
Review Lesson: Econ concepts in 60 seconds – Perfect Competition Welker's Wikinomics Blog
Review Lesson: Econ concepts in 60 seconds – Perfect Competition Welker's Wikinomics Blog
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